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Quarterly Report For The Financial Period Ended 31 December 2017

Financials Archive

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Condensed Consolidated Statement Of Profit And Loss And Other Comprehensive Income
For The Quarter And Nine Months Ended 31 December 2017

Condensed Consolidated Statement Of Financial Position
As At 31 December 2017

Review of Performance

Comparison between Current Financial Quarter Ended 31 December 2017 and Previous Corresponding Quarter Ended 31 December 2016

A summary of the Group's performance is set out below:-

Surface Treatment & Precision Cleaning Division

Revenue for the current quarter increased 5.11% as compared to the preceding year corresponding quarter mainly due to increase in surface treatment services.

Gross profit margin decreased from 30.26% to 26.55% in the current quarter mainly due to higher utility expenses in the current financial quarter.

Administrative expenses has increased by RM1,347,000 mainly due to:

The Group reported a loss before tax of RM1.03 million as compared to a profit before tax of RM2.42 million in the previous year corresponding quarter.

Comparison between Current Period-to-date Ended 31 December 2017 and Previous Corresponding Period-to-date Ended 31 December 2016

Surface Treatment & Precision Cleaning Division

Total revenue from Surface Treatment & Precision Cleaning for the current period remain about the same as compared to the preceding year corresponding period. Decrease in Cassette washing services were offset by increase in surface treatment and component washing services.

Gross profit margin remained relatively consistent.

Administrative expenses has increased by RM4,113,000 mainly due to Indirect staff cost increased by RM2,288,000 and Legal and professional fee increased by RM813,000

The Group reported a loss before tax of RM3.83 million as compared to a profit before tax of RM2.69 million in the previous year corresponding period.

Material Changes in the Quarterly Results as Compared with the Immediate Preceding Quarter

Surface Treatment & Precision Cleaning Division

The Group's revenue from Surface Treatment & Precision Cleaning for current financial quarter has increased by 11.55% as compared to the immediate preceding quarter, the increase is mainly due to increase in surface treatment services and Component washing services.

Gross profit margin for the surface treatment and precision cleaning division decreased from 27.60% to 26.55% mainly due to higher utility expenses in the current financial quarter.

The Group registered a loss before tax of RM1.03 million as compared to a loss before tax of RM0.22 million in the immediate preceding quarter.

Future Prospects

With the improving economic outlook, the demand for our services is expected to increase especially in the 2nd half of 2018. With our newly installed equipment fully operational, we expect the Group performance in 2018 to improve as compare to 2017.

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